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Doughty doubles money on Quirón investment through exit to CVC

7 Jul 2014

quiron hospital barcelonaEuropean private equity firm Doughty Hanson has doubled its initial investment in Spanish private hospital group Quirón by selling its stake to CVC Capital Partners.

Doughty CEO Stephen Marquardt described news of the sale last month as “rumours in the marketplace” despite the information coming directly from a Quirón spokesman at the time.

No further financial details were revealed by Doughty, which sold its entire 62 per cent holding in the business it first bought into in April 2012.

That investment came amid plans to merge Quirón with its previously acquired stake in USP Hospitales to create one of Spain’s largest private hospital groups.

The deal means Doughty has returned almost all of the capital from its fifth fund to investors after just four exits, with another four businesses still in the portfolio.

Doughty partner Francisco Churtichaga said, “When we first identified USP, GHQ and Teknon as potential investments we immediately saw the value in merging the businesses into one group.

“Our plan was to create a Quirón that would benefit from each company’s strengths, with outstanding levels of care at its core.

“We have helped build the largest network of private hospitals across Spain, creating a group that offers a truly comprehensive range of services covering all medical specialties.”
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